SAS — Earnings Release 2023

Mar 7, 2023

195 87 Stockholm Telephone: +46 8-797 0000 Fax: +46 8-797 1515 www.sasgroup.net

SAS Traffic figures – February 2023

1.6 million passengers traveled with SAS during February

The number of passengers traveling with SAS amounted to 1.6 million in February, an increase by 64 percent compared to the same period last year. SAS' passenger demand continued its positive trend with RPK increasing by 61 percent while capacity increased by 33 percent, compared to the same period last year. The flown load factor for February was 71 percent, an improvement by 13 percentage points compared to February last year.

"Passenger demand continued its positive trend for SAS and 1.6 million passengers traveled with us in February, up 64 percent compared to the same month last year. Our flown load factor continues to improve and reached 71 percent in February. During the month, we have inaugurated our route from Copenhagen to JFK in New York as part of strengthening our US offering. We continue to prepare for a busy summer season and the launch of our 20 new summer season routes," says Anko van der Werff, President & CEO of SAS.

Feb23	Change1	Nov22- Feb23	Change1
			21.2%
			49.7%
			13.3 pp
1,555	64.4%	6,122	52.0%
	2,585 1,831 70.8%	32.5% 61.4% 12.7 pp	10,936 7,614 69.6%

¹ Change compared to same period last year, pp = percentage points

Geographical development, schedule	Feb23	vs.	Feb22	Nov22- Feb23 vs. Nov21-Feb22
	RPK		ASK	RPK	ASK
Intercontinental	127.8%		36.0%	89.7%	36.4%
Europe/Intrascandinavia	53.0%		38.7%	36.6%	15.7%
Domestic	42.5%		27.9%	33.7%	13.5%

			FX adjusted
Preliminary yield and PASK	Feb23	Nominal change1	change
Yield, SEK	1.07	4.6%	1.8%
PASK, SEK	0.75	29.5%	26.0%
			Feb23

Punctuality (arrival 15 min)	71.9%
Regularity	97.7%
Change in total CO2 emissions	63.5%
Change in CO2 emissions per available seat kilometer,	3.4%
Carbon offsetting of passenger related emissions	42.6%

Definitions:

RPK – Revenue passenger kilometers

Scandinavian Airlines

195 87 Stockholm Telephone: +46 8-797 0000 Fax: +46 8-797 1515 www.sasgroup.net

ASK – Available seat kilometers Load factor – RPK/ASK Yield – Passenger revenues/RPK (scheduled) PASK – Passenger revenues/ASK (scheduled) Change in CO2 emissions per available seat kilometers – SAS passenger related carbon emissions divided with total available seat kilometers (incl non-revenue and EuroBonus tickets), rolling 12 months vs rolling 12 months previous year Carbon offsetting of passenger related emissions – Share of SAS passenger related carbon emissions compensated by SAS (EuroBonus members, youth tickets and SAS' staff travel) during the month

From fiscal year 2020 we report change in CO2 emissions in total and per Available Seat Kilometers (ASK) to align with our overall goal to reduce our total CO2 emissions by 25% by 2025, compared to 2005.

For further information, please contact: SAS press office, +46 8 797 29 44

SAS, Scandinavia's leading airline, with main hubs in Copenhagen, Oslo and Stockholm, is flying to destinations in Europe, USA and Asia. Spurred by a Scandinavian heritage and sustainable values, SAS aims to be the global leader in sustainable aviation. We will reduce total carbon emissions by 25 percent by 2025, by using more sustainable aviation fuel and our modern fleet with fuel-efficient aircraft. In addition to flight operations, SAS offers ground handling services, technical maintenance and air cargo services. SAS is a founder member of the Star Alliance™, and together with its partner airlines offers a wide network worldwide. Learn more at https://www.sasgroup.net

This is information that SAS AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of Erno Hildén, at 11:00 a.m. CET on March 7, 2023.